Hello @TotallyColleen this is a great question!
Before I recommend a method I need to know if you plan on using our Inventory Management. If you are, do you already have your stock of this item separated? With having two separate variations the stock count will have to be split.
Alternatively, you can have just one item at one price and create a discount that's called wholesale. Then you can track your inventory with just one item.
I'll keep an eye out for your reply!
